Economy posts 12,000 net job gains in September, unemployment rate down

Unemployment rate 6.9%

Statistics Canada says the Canadian economy created almost 12,000 net new jobs in September as fewer young people looking for work also helped slightly reduce the unemployment rate.

The unemployment rate was 6.9 per cent for the month, down 0.2 percentage points. It was the first time since December 2008 that it was below seven per cent.

The results came as the number of jobs was up in New Brunswick and down in Saskatchewan.

The number of private sector employees was up, but there were fewer self-employed.

Industries that saw gains included natural resources, agriculture, finance, insurance, real estate and leasing.

There were fewer jobs in manufacturing and public administration.